SAP reports sales records in '12; revenue surges 14%

FRANKFURT--German software giant SAP said on Tuesday it achieved record sales last year, beating its full-year forecasts, even though acquisition costs hit earnings.

“2012 was an outstanding year where we set many new records. We continued our double-digit growth momentum and exceeded our revenue guidance,” boasted co-chief executives Bill McDermott and Jim Hagemann Snabe.

SAP said in a statement it booked a 14-percent increase in overall revenues to 16.22 billion euros (US$21.6 billion) in 2012.

Software and software-related sales were up 16 percent at 13.16 billion euros, exceeding expectations for an increase of 10.5-12.5 percent. Operating profit fell by 17 percent to 4.06 billion euros, impacted by acquisition-related charges, the group explained.